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Gloo Completes Acquisition of Midwestern Interactive
Gloo announced it has completed the acquisition of the remaining ownership stake in Midwestern Interactive. The transaction, which was previously announced, marks a new phase in the relationship that has grown from strategic investment to operational collaboration, with Gloo now holding 100% ownership. "Midwestern brings a rare combination of technical depth, execution experience and a clear understanding of the talent needs at faith and mission-driven nonprofits," said Scott Beck, Co-Founder and CEO of Gloo. "With increasing demand for AI and forward-deployed engineering services across the ecosystem, this acquisition gives us a stronger foundation for serving global organizations with complex technology requirements."
Gloo Announces Definitive Agreement to Acquire Cedarstone
Gloo announced a definitive agreement to acquire Cedarstone, an integrated business services firm that provides finance and development outsourcing services to nonprofit organizations. "The pace of change in financial and business services right now is unlike anything this industry has seen. Bringing Cedarstone in as a wholly-owned Gloo Capital Partner gives them the technology infrastructure to deliver more of the work itself, helping them improve outcomes for the organizations they serve, and scale to new customers," said Scott Beck, Co-Founder and CEO of Gloo. "We also share a powerful common vision. Cedarstone is built to champion the same faith-aligned organizations and ministries that Gloo serves." The acquisition is expected to close during Gloo's third quarter. Cedarstone will continue to operate under its own brand and leadership as a wholly-owned Gloo Capital Partner.
Gloo Plans Stock Offering to Raise $6 Million
Gloo intends to use the net proceeds from the proposed offering for general corporate purposes, including acquisitions and investments in businesses, products, services or technologies, working capital, operating expenses and capital expenditures. In addition, Scott Beck, Pat Gelsinger, and certain other members of Gloo's board of directors and their affiliated entities have indicated their interest in purchasing at least $6.0 million in shares of Class A common stock being offered in this proposed offering at the public offering price. Citizens Capital Markets is acting as lead book-running manager for the proposed offering and Roth Capital Partners is acting as book-running manager for the proposed offering. Benchmark, a StoneX Company, and Loop Capital Markets are acting as co-managers for the proposed offering.
Tech Stocks Weighed Down, Nasdaq Falls Over 1%
Turmoil in the mega-cap tech space and higher interest rates weighed on investor sentiment on Monday as markets returned from an extended weekend. Six of the seven MAG-7 stocks were down, and even Tesla- the sole gainer - scrambled amid headlines of fatal FSD crashes. Double-digit decline in SpaceXshares following the company's announcement of a debt offering this morning further weighed on tech-heavy Nasdaq, which finished the day down over 1%.In the opening hours of the evening session, investor sentiment is muted, with S&P 500 futures down to 10 and Nasdaq 100 down 0.3%. In addition to the headline roulette regarding negotiations over the cost of a safe passage through the Strait of Hormuz, earnings out of Micronon Wednesday evening and PCE inflation data expected out Thursday morning are the key risk events for the week.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -Avis Budget Groupup 6.5% after settlement agreement with Pentwater CapitalMurphy Oilup 1.0% after disclosing oil discovery offshore Côte d'IvoireLOWER -Primoris Servicesdown 33.4% after cutting FY26 guidanceDefinium Therapeuticsdown 4.6% after equity offeringMoonLake Immunotherapeuticsdown 3.8% after equity offeringGloo Holdingsdown 2.6% after equity offering
Energy and Tech Sectors Perform Strong Amid Middle East Tensions
Tech and Energy sectors in the S&P 500 have rarely tracked together over the past few months, with headlines related to Middle East tensions driving up inflation fears, which were then felt through upward pressure in Treasury yields while discouraging inflows into higher-beta areas of the market. On Monday, however, Energy and Tech were the best two sectors in the S&P 500 amid sustained escalation between US and Iran as well as a bounce-back in Semiconductors and Computer Hardware names following Friday's rout. In turn, the less-cyclical Utilities was the worst performing sector today and also bears the distinction of the biggest loser since the U.S.-Iran war began in early March, as yield-seeking funds opted for higher fixed income allocations.In the opening hour of the evening session, NASDAQ 100 contract and S&P E-minis are both down by a decimal. In commodities, WTI crude oil remains above $91 per barrel despite comments from President Trump in a press interview promising the end of Iran war in two weeks. Metals have also remained under pressure following Friday's sell-off - gold trades at $4,350 and silver is staying well below $70 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Gloo Holdingsup 5.1%ALSO HIGHER -Applied Digitalup 8.4% after announcing new long-term lease agreement at Delta Forge 2DOWN AFTER EARNINGS -Mission Producedown 5.0%Vail Resortsdown 4.2%ALSO LOWER -IDEAYA Biosciencesdown 7.8% after equity offering
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